Earnings are pouring in at this time. Microsoft is the first mega cap stock to report earnings that were not so hot. The stock fell by nearly 3% and recovered and now investors are now thinking that this earnings season could be weak going forward.
1. Today, the markets are selling off and we shall see what the market does by the close. It's been a great rally since January 6th, but now its show time and there are a lot of ugly earnings announcements so far.


2. Energy stocks are slumping a bit today. The integrated stocks such as Exxon Mobil (XOM), Chevron (CVX) and Conoco (COP) are all lower this morning. This has been an industry group where a lot of investors have been hiding out, but today it isn't paying off.

3. Gold is pulling back a little today, but every time it falls it seems to rally right back up. This could be due to the NATO build up against Russia. When you see so much global tension on the horizon investors run to gold.

4. Bitcoin is pulling back today, but it has had a decent bounce recently. The bigger picture has not changed as I believe when this liquidity rally ends so will Bitcoin.

1. The major stock indexes seem to be holding up well to start the day. As you know, there was a strong rally on Friday and that will often signal short term strength early the following week. So while we need to monitor the action each and everyday there does not seem to be many issues today. The semiconductors are acting well today and that tells me that the indexes should be fine today. If that industry group reverses then there could be problems with the rally.

2. Earnings season will kick into full gear this week. Companies such as Microsoft, 3M, Travelers, Freeport McMoran and dozens of other household names will report this week. This is when we will get a real picture of how these companies are really doing. You see, last week was really primarily bank stocks, now we will see many more leading in different sectors report earnings.

3. Gold is pulling back a bit today. The precious metal space has been like a freight train recently, but it is overbought and due for a pullback/ correction. Silver is really getting hit today and this was long overdue as it has been resilient.

4. Bitcoin is back. As the markets have rallied so has bitcoin. This tells me that the speculative asset classes seem to inflate quicker than the major stock indexes when markets rally. The same goes for the meme stocks like Gamestop. The money runs right back in these when it seems the liquidity is back.

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1. Its options expiration for January today. This holiday shortened trading week has been filled with lots of whipsaw. This past Wednesday and Thursday we saw some weakness, but today markets have firmed up and look very strong toda to close out the week. 34,500 is resistance on the Dow
2. Netflix reported earnings last night and that stock is strong today, This may have boosted tech a bit as most of the leading NASDAQ stocks are trading higher. Google is having a solid day despite announcing layoffs to the tune of 11,000. So far, the tech sector has announced about 60,000 layoffs in the past couple of weeks. The markets don't seem to have a problem with it yet. I'm watching this closely.

2. Gold is holding its own. It’s had an amazing run. In the shortrun they are oversold. Now all the buy reco’s are coming. Due to correct.

3. Bitcoin is showing strength for now, but it’s headed to 11k.

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1.Earnings season kicks off today. The big banks all reported earnings. They started a little weak and have been rallying back from the gap lower open. Everyone should continue to watch the financial stocks very closely as they have been a really good leading indicator. So far from what I see, there is really no harm done today in them.


2. Next week more earnings announcements will be pouring in. So always be careful holdiing stocks into an earnings announcement. Its always a gamble. Next Friday is also options expiration for January and this should make next week a wild week overall. Remember, all monthly options expiration weeks are fulled with a lot of institutional game playing.

3. Gold and Silver are kicking butt, approaching an intermediate high. The dollar will rise again and this could put pressure on the metal sector.

1. The major indexes are all holding up well today. As you all know, the markets surged on Friday after the weaker than expected ISM report. Bond yields also backed off and this helped stocks rally as many investors think the Fed could possibly slow their rate increases. The current fed funds rate is now very close to the 2-year note yield and that is a positive for the central bank.

2. Friday's rally was on the back of a high volume session, so there was a little conviction behind the move. This rally might last a little while, hence the January effect.

3. Gold is strong again today trading around 1882.00. My upside objective has been met so if anyone owns gold now they should be protecting the position.

4. Silver is also holding up well today, but this has met its near term upside objective and needs to consolidate or even pullback before the next leg higher begins.

5. Bitcoin is catching a bid trading higher by 2.0% to 17200. This bounce looks temporary and once this market rally ends bitcoin will likely decline once more. Nothing has changed as this should head south to 11K.

1. Gold is getting close to its upside potential of $1875, it may overshoot slightly. Gold stocks are up nearly 2%. Silver getting back to $24. It’s been very reslient. Currently overbought, expect a pullback.

2 $TSLA could have a short low in place, but it’s weak overall. Pretty good for a short term bounce.

3. Stocks are rallying with the Russell up nearly 2 percent. Is the January effect in play and will it last the entire?

4. Bitcoin trading flat. Almost a non-story. Holding its level. Sub 11,000 is on the way. Will it bounce to $18k

First a happy and a healthy New Year to all of you out there. 2023 is going to be a year of danger and opportunity. As usual, we start the year out with another amazing call by Master-Trader Nick Santiago. Several weeks ago, when $TSLA was trading around $170, Nick made the seemingly absurd call that it was heading down to $110. Well he was off a little when the stock hit $105 yesterday.

1. It's 2023 and the markets are acting exactly the same as 2022. Traders are seeing a lot of choppiness and whipsaw and that is likely the theme throughout the rest of the year. It is going to be a traders market and as I have said before, if you cannot read charts it will be very challenging. In bear markets you better be a chartist or really lucky. Honestly, I do not believe in luck.

2. Tesla $TSLA has been the story stock over the past few weeks. It was not that long ago that I said the stock would drop to $110.00. I think the downside is ending now and a likely bounce is possible now. Next call, after a bounce Apple $AAPL will be a $95 stock. $MSFT will hit $190. Short run we’ll get a January effect.

3. Gold is strong again this morning. I've been saying that that gold should reach $1875 and that got close today. Remember, the upside is limited for gold now, but it's been a great run.
Silver has been resilient. I'm also looking for a pullback soon to get back into another silver play for a long pull.

4. Bitcoin is hanging in there today trading around 16,800. As you know this still has lower to go before it begins to look attractive. There could be some bounces down here, but until it rached 11,300 I do not see a bottom.

1. Stocks are rallying higher to start the day. The news is telling us that the positive reaction to the earnings announcements from Fedex (FDX) and Nike (NKE) are the catalyst. I'm gonna beg to differ, I think it's the Winter Solstice that is helping the markets right now, especially with the markets coming from a very oversold condition. Lets see if it can stick the landing and close positive today.

2. Today's rally looks to be broad based. The one industry group that is weak today is the hotel stocks. Marriott (MAR), Host (HST), Hilton (HLT) and Hyat (H) are all down by more than 2% today. The charts look weak right now so I'd need to do more work on these stocks, but whenever a sector fails to rally in a broad based advance it should catch your attention. Housing has been strong. ITB ETF shows potentially some additional upside.

3. Gold is slightly positive today, but it was extremely strong yesterday. The chart still looks good and it should continue a little higher in the near term. My upside target is $1875. Silver still on fire. Nick is bummed because he already took profits.

4. Bitcoin is slightly negative today, but it's not terrible trading around 16,800. Either way, this equity is ultimately headed down to the 113000 level if my charts are correct.

1.This should be a light volume trading week as we enter the Christmas holiday. There will be a lot of traders and investors taking a break during this historically quiet time of year. Either way, the major indexes had a very rough time last week. The markets are starting to get a bit oversold so some short term bounces are possible soon,, but I would not look for much.

2. Elon Mush Tweets out if he should be the CEO of Twitter. This is rally funny because the Tesla (TSLA) shareholders hate him doing this. I must tell you that the Tesla chart looks horrible. I think this thing is headed down to around $110.00 before it finds a bottom.


3. Gold is flat, but as I have said last week the chart has upside to 1875.

4. Bitcoin is under a little pressure today trading down by 0.75% to 16,600.00. There is nothing new here as the stock looks weak and I ultimately am looking for Bitcoin to trade below 12K and possibly even 11,300.KL says 9700.

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1. Markets have had a rough week with the major indexes under some slight pressure this morning. This was a week filled with news, The CPI data was released on Tuesday, the FOMC rate decision was on Wednesday and today is a quadruple witching options expiration. I really try not to make too much out of options expiration weeks since there is so much institutional game playing that goes on. Either way, markets are down and the charts have definitely weakened in many different industry groups.

2. The financial stocks are one sector that everyone should follow. This group is breaking down quickly. Earlier today, Bloomberg reported that Goldman Sachs (GS) could lay off 4000 workers. If things were so great I highly doubt that they would do that. At this time, JP Morgan Chase (JPM) looks to be holding up the best in the group. 

3. Energy has been all over the map this week as well. Today, bothe oil and Nat gas are pulling back. Most of the leading energy stocks are also dipping this morning. This group is very important because it has been the one bright spot for the markets. Lately, this safe haven has been under pressure and we might see more whipsaw until it corrects further. 

4. Gold is shining again today in a choppy week. Yesterday, gold sold off but it did not violate its uptrend. Gold still looks poised for more upside in the near term. 

5. Bitcoin and crypto are weaker today. Bitcoin is down about 2.5% slipping below 17K. As you know, I expect the popular crypto to trade down to the 11,500 area. Remember, the larger time frame is very weak and signals more downside before the bleeding stops.